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Can Dubai learn from the Hong Kong property boom?

Posted on 11 January 2013

Do you know what the hottest property ticket in Hong Kong is right now? That’s right — it’s the humble parking space. The average price for each slot is now nearly $100,000, and a report last week claimed that one real estate boss, Jacinto Tong, had been offered $640,000 for each of his two spaces in the central Wanchai business district.
Tong decided not to cash in; he says he likes parking his Mercedes S500 near his office building’s lift, while the other space is reserved for his driver. Parking spaces have become big business; some banks are even offering mortgages on them………………………………………..Full Article: Source

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